Cermaq CEO Jon Hindar resigns, replaced by Geir Molvik

Published on
June 23, 2016

Cermaq, one of the world’s largest salmon and trout farming operations with farms in Norway, Chile and Canada and customers in more than 70 countries, announced Thursday, 23 June that it has replaced CEO Jon Hindar with Geir Molvik, formerly the COO of Cermaq Norway.

Cermaq, which has its head office in Oslo, Norway, is a fully owned subsidiary of Mitsubishi Corporation, said it accepted Hindar’s resignation “regretfully.”

“Jon has done an outstanding job as CEO for Cermaq under the ownership of Mitsubishi Corporation, and we therefore would have liked to see him continue in this position,” Cermaq Board Chairman Yu Sato said in a press release.

Hindar did not specify the reasons for his resignation. Cermaq has struggled recently with the SRS syndrome and an algal bloom near its Chilean operations that caused significant losses. The company also announced earlier this month that it had revamped its marketing efforts by hiring a new group marketing director and, in May, it hired a new CFO.

“The almost five years as CEO for Cermaq have been an exciting and rewarding experience, but I have found that now is the right time for me to move on to new challenges in my working life,” Hindar said in the release.

Hindar will vacate his positions as CEO and a company board member and Molvik will take the reins of the company on 4 July, 2016. Molvik has worked in different leaderships positions for Cermaq since 2005, most recently as COO for Cermaq Norway. When Geir Molvik takes on his new position, Snorre Jonassen will assume the role of acting COO for Cermaq Norway until the company decides how best to fill the position.

“The board is pleased that Geir Molvik has accepted to take the helm of Cermaq Group. Geir has indebt knowledge and experience about Cermaq and the salmon farming industry, and the board is confident that he will lead the company in an excellent manner going forward,” Sato said.

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